Kentucky Retirement Systems Insurance Trust Fund Sells 161 Shares of Paycom Software, Inc. (NYSE:PAYC)

Kentucky Retirement Systems Insurance Trust Fund cut its stake in shares of Paycom Software, Inc. (NYSE:PAYC) by 9.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,586 shares of the software maker’s stock after selling 161 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Paycom Software were worth $316,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. BOKF NA lifted its stake in Paycom Software by 453.0% during the 1st quarter. BOKF NA now owns 9,219 shares of the software maker’s stock valued at $1,828,000 after acquiring an additional 7,552 shares in the last quarter. Quadrature Capital Ltd lifted its stake in Paycom Software by 285.9% during the 1st quarter. Quadrature Capital Ltd now owns 34,289 shares of the software maker’s stock valued at $6,826,000 after acquiring an additional 25,403 shares in the last quarter. Advisors Asset Management Inc. lifted its stake in Paycom Software by 37.0% during the 1st quarter. Advisors Asset Management Inc. now owns 300 shares of the software maker’s stock valued at $60,000 after acquiring an additional 81 shares in the last quarter. Shell Asset Management Co. lifted its stake in Paycom Software by 94.1% during the 1st quarter. Shell Asset Management Co. now owns 3,676 shares of the software maker’s stock valued at $732,000 after acquiring an additional 1,782 shares in the last quarter. Finally, Crewe Advisors LLC bought a new position in Paycom Software during the 1st quarter valued at $55,000. 87.77% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

PAYC has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. lifted their target price on Paycom Software from $165.00 to $175.00 and gave the stock a “neutral” rating in a research note on Thursday, May 2nd. Barclays lowered their target price on Paycom Software from $184.00 to $161.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 16th. William Blair reiterated a “market perform” rating on shares of Paycom Software in a research note on Thursday, May 2nd. BMO Capital Markets lowered their target price on Paycom Software from $200.00 to $190.00 and set a “market perform” rating on the stock in a research note on Thursday, May 2nd. Finally, TD Cowen lowered their target price on Paycom Software from $170.00 to $147.00 and set a “hold” rating on the stock in a research note on Thursday, June 20th. Seventeen investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $236.38.

Insider Buying and Selling at Paycom Software

In other news, CEO Chad R. Richison sold 1,950 shares of Paycom Software stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $180.82, for a total transaction of $352,599.00. Following the completion of the sale, the chief executive officer now owns 3,091,958 shares in the company, valued at approximately $559,087,845.56. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, insider Jason D. Clark sold 906 shares of Paycom Software stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $143.61, for a total transaction of $130,110.66. Following the completion of the sale, the insider now owns 43,367 shares in the company, valued at approximately $6,227,934.87. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Chad R. Richison sold 1,950 shares of Paycom Software stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $180.82, for a total value of $352,599.00. Following the sale, the chief executive officer now owns 3,091,958 shares of the company’s stock, valued at approximately $559,087,845.56. The disclosure for this sale can be found here. Insiders sold 51,037 shares of company stock valued at $7,754,590 in the last quarter. 14.50% of the stock is currently owned by corporate insiders.

Paycom Software Price Performance

PAYC stock traded up $2.90 during mid-day trading on Monday, reaching $166.93. 291,977 shares of the company traded hands, compared to its average volume of 844,537. The company has a market capitalization of $9.70 billion, a P/E ratio of 19.98, a P/E/G ratio of 2.72 and a beta of 1.16. Paycom Software, Inc. has a 52-week low of $139.50 and a 52-week high of $374.04. The company has a fifty day moving average price of $151.90 and a 200-day moving average price of $176.02.

Paycom Software (NYSE:PAYC) last posted its earnings results on Wednesday, May 1st. The software maker reported $4.25 earnings per share for the quarter, beating analysts’ consensus estimates of $1.96 by $2.29. The business had revenue of $499.88 million during the quarter, compared to analyst estimates of $495.89 million. Paycom Software had a return on equity of 32.84% and a net margin of 26.91%. As a group, analysts forecast that Paycom Software, Inc. will post 6.36 EPS for the current year.

Paycom Software Profile

Paycom Software, Inc provides cloud-based human capital management (HCM) solution delivered as software-as-a-service for small to mid-sized companies in the United States. It offers functionality and data analytics that businesses need to manage the employment life cycle from recruitment to retirement.